Gold Rate in India Fluctuate Across Cities, Silver Sees Downturn

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Gold Rate In India, Bangalore, February 20, 2024: Gold prices in India displayed variations across major cities on Tuesday, February 20th, with the average cost of 10 grams hovering around Rs 62,000.

For 24-carat gold, the average price across cities stood at approximately Rs 62,680 per 10 grams, while 22-carat gold averaged Rs 57,460. Notably, the silver market presented a contrasting picture, experiencing a steady decline, reaching Rs 75,500 per kilogram. Gold rate in Hubballi is for 22-carat gold per 10 grams is 57,350

City-wise Breakdown:

  • Delhi: Residents in Delhi have to shell out Rs 57,610 for 10 grams of 22-carat gold and Rs 62,830 for the same quantity of 24-carat gold.
  • Mumbai: In Mumbai, 10 grams of 22-carat gold currently costs Rs 57,460, while 24-carat gold fetches Rs 62,680.
  • Chennai: The price for 10 grams of 22-carat gold in Chennai is Rs 58,010, and Rs 63,280 for the same amount of 24-carat gold.

Other Cities:

The table below details the price of 22-carat and 24-carat gold for 10 grams in other major Indian cities:

City 22 Carat Gold Price 24 Carat Gold Price
Ahmedabad Rs 57,510 Rs 62,730
Kolkata Rs 57,460 Rs 62,680
Gurugram Rs 57,500 Rs 62,710
Lucknow Rs 57,500 Rs 62,710
Bengaluru Rs 57,460 Rs 62,680
Jaipur Rs 57,500 Rs 62,710
Patna Rs 57,400 Rs 62,610
Bhubaneshwar Rs 57,350 Rs 62,560
Hyderabad Rs 57,460 Rs 62,680

Multi Commodity Exchange:

Gold futures expiring on April 5th closed at Rs 62,009 on the Multi Commodity Exchange, while silver futures for March 5th ended at Rs 71,213.

Factors Affecting Gold Price:

Several factors influence the retail price of gold in India, including the global gold price, the Indian Rupee’s value, and manufacturing costs.

Significance of Gold:

Gold holds immense cultural and economic importance in India. It serves as a valuable investment, plays a vital role in weddings and festivals, and carries deep cultural significance.

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